With the emergence and long-term Impact of COVID-19, Global Automotive SoC Market to reach USD 27.88 billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Automotive SoC Market points towards a potential rise to USD 27.88 billion by 2030. Automotive SoC (System-on-a-Chip) refers to a specialized integrated circuit designed for use in automotive applications. It combines various components and functionalities into a single chip, providing a compact and efficient solution for automotive electronic systems. An automotive SoC typically integrates multiple subsystems, including microprocessors or microcontrollers, memory units, digital signal processors (DSPs), graphics processing units (GPUs), interfaces, and other necessary peripherals.
These components work together to enable the functionality and control of various automotive systems, such as infotainment systems, advanced driver assistance systems (ADAS), engine control units (ECUs), body control modules, and more. The surging demand for connected and autonomous vehicles, rising adoption of advanced driver-assistance systems (ADAS), and growing demand for infotainment systems such as touchscreen displays and navigation systems, coupled with the rising penetration of electric vehicles are the key factors that are propelling the market growth at a considerable rate.
Geographically, the global Automotive SoC market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022 owing to the high adoption of connected and autonomous vehicles, rising adoption of advanced driver-assistance systems (ADAS), and growing demand for infotainment systems. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecasting years. The flourishing development of the automobile industry, as well as the rise in vehicle sales and the presence of large automobile manufacturing plants, are significantly propelling the market demand across the region.
The global Automotive SoC market is highly competitive owing to the presence of several key manufacturers such as Texas Instruments Incorporated, Infineon Technologies AG, Intel Corporation, NVIDIA Corporation, Qualcomm Technologies, Inc, STMicroelectronics, NEC Corporation, NXP Semiconductors, ON Semiconductor Corporation, Renesas Electronics Corporation, and others.
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Key findings of the study suggest:
- Global Automotive SoC Market is anticipated to grow with a healthy growth rate of more than 6.5% over the forecast period 2023-2030.
- In Application segment, Infotainment Systems SOCs emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to rising adoption of advanced driver-assistance systems in the region.
- Asia Pacific is also expected to grow at higher rate during 2023-2030 owing to rise in vehicle sales and the presence of large automobile manufacturing plants in the region.
Bizwit Research & Consulting has considered following segments for the study:
By Vehicle Type:
- Passenger Cars
- Commercial Vehicles
By Application:
- Infotainment Systems SOCs
- ADAS SOCs
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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